(TheNewswire)
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Acquisition of investment company,Hardenbrook
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4 new spin outs and listings inHeathcare AI, BioPharma, and AgriTech
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No more excessive dilution toshareholders for each new spin out
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Reward shareholders with each newspin out and listing
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New CEO and board to drive growth andbuild shareholder value
Vancouver, British Columbia – TheNewswire - May 30, 2023 –Blackhawk Growth Corp. (CSE:BLR ) ; ( Frankfurt:0JJ)(the “ Corporation ” or “ Blackhawk ) . Further to thenews release of May 29, 2023 the Company announces that the 15,000,000 Warrants to be issued with an exercise priceof $0.10 have a term of two years from closing to exercise. Thedirectors are all shareholders of Hardenbrook. Justin Hanka and AnooshManzoori are also directors of Hardenbrook.
N ofinders’ fees or commissions were paid in connection with closing ofthe acquisition.
As a result the issued share capital will increasefrom 77,995,593 Shares to 147,995,593 Shares. Shareholder approvaland CSE approval is required and a valuation report will be obtained.Hardenbrook has cash and cash equivalents of AUD$800,000 plus fourportfolio subsidiaries and a strategic investment in CSE listedMindBio Therapeutics. The acquisition of Hardenbrook will allowBlackhawk to recapitalize its balance sheet and avoid a privateplacement for the immediate term. Further updates will be provided toshareholders.
This acquisition is not a change of business as itenhances the current operations of the Company. It is also not changeof control as no shareholder will own more than 20% of the resultingshares.
The board is committed to continuing the existingoperations of Blackhawk and at the same time expanding the groupsportfolio with companies with rich intellectual property in sectorsHeathcare AI, BioPharma, and AgriTech. Hardenbrook is progressing allfour of its portfolio companies simultaneously towards a spin out andlisting and will also review the existing investments in Blackhawk toadvance their commercialization and listing opportunity.
About Blackhawk Growth
Blackhawk is an investment holding company looking tocreate substantial value for its shareholders through the acquisitionand development of high growth companies.
The CSE has neither approved nordisapproved the contents of this news release and does not acceptresponsibility for the adequacy or accuracy of this newsrelease.
Cautionary NoteRegarding Forward-Looking Statement
All statements in this pressrelease, other than statements of historical fact, are “forward-looking information”with respect to the Company within the meaning of applicablesecurities laws. The Company provides forward-looking statements forthe purpose of conveying information about current expectations andplans relating to the future and readers are cautioned that suchstatements may not be appropriate for other purposes. By its nature,this information is subject to inherent risks and uncertainties thatmay be general or specific and which give rise to the possibility thatexpectations, forecasts, predictions, projections or conclusions willnot prove to be accurate,that assumptions may not be correct and that objectives, strategicgoals and priorities will not be achieved. These risks anduncertainties include but are not limited those identified andreported in the Company’s public filings under the Company’s SEDARprofile at www.sedar.com. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
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